Xi Jinping Targets Big Tech

China’s anti-graft agencies possibly targeting Ant, watching Tencent

By: Toh Han Shih

As the year begins, China’s nine-year-old anti-corruption campaign is not slackening, instead turning to new targets that President Xi Jinping has identified as a threat to the nation’s economic and financial security – likely fintech companies Wechat Pay and Alipay.

The two together command more than 90 percent of the mainland Chinese on…